Related Articles
Forward article link
Share PDF with colleagues

Kashagan should not become a symbol for Asian oil

Central Asia’s oil and gas are crucial to global energy balances, but the region is facing some lean years

Discovered in 2000, Kashagan confirmed Central Asia’s arrival as the energy world’s new powerhouse. With recoverable reserves of 13 billion barrels, the field was a true giant, scotching notions that the oil industry could no longer uncover the resources needed to keep adequate global supply ticking ever upwards. The firms that arrived in Kazakhstan to extract the crude promised swift development. Oil would flow from 2005 and the field would pump 1.5 million barrels a day (b/d).Petroleum Economist’s readers will be familiar with the failures that followed. Kashagan only started producing last year. Within a month it was shut. The future profitability of the field, being developed through a p

Also in this section
Venezuela going for broke
16 January 2018
The Maduro government wants a new deal on its debt. Things are going to get messy
Iraqi Kurdistan sinking fast
11 January 2018
The future of the KRI's oil sector is uncertain, with the federal government determined to bring all the country's production and exports back under its wing
Iraqi Kurdistan's wrong turn
11 January 2018
Burdened by political and economic crises at home, the autonomous region faces difficult talks with a newly confident federal government in Baghdad